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Choice models in marketing and economics are generally derived without specifying the underlying cognitive process of decision making. This approach has been successfully used to predict choice behavior. However, it has not much to say about such aspects of decision making as deliberation, attention, conflict, and cognitive limitations and how these… (More)

Choice based conjoint analysis is a popular marketing research technique to learn about consumers' preferences and to make market share forecasts under various scenarios for product offerings. Managers expect these forecasts to be "realistic" in terms of being able to replicate market shares at some pre-specified or "base case" scenario. Frequently, there… (More)